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Hi all. I reclaimed my PPI a couple of years ago thtough a third party. Yesterday I got a call from Cabot Financial who tolg me I was owed more and that a refund was waiting, look out for the forms and and follow instruction, having never heard of them I treated it as per the many other random calls I get and didn't give them any info.
Today I have two letter from them each explaining that I did not receive all statements during which time interest was being charged to my account and they a re pleased to confirm this amout is to be refunded.
Each letter refers to Black Horse as the original lender which makes sense as I reclaimed PPI on two Black Horse Accounts, they now want me to registrr my account online and submit a contact form for my refunds. Is this legit or a clever scam to get my bank details?

Yesterday I got a call from Cabot Financial who tolg me I was owed more and that a refund was waiting,

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What you describe there is fraud. Now, none of us here heard the call. So, we cannot say it was fraud. So, I am only saying that what you describe is fraud. Definition of fraud is wrongful or criminal deception intended to result in financial or personal gain

If the bank/lender decided to increase the redress at a later date, they would automatically come to you and do so. They would not sit on it and wait for a CMC to contact them. There is no extra refund waiting for you.

Lots of lenders are increasing past offers. When this happens, the lender contacts you automatically. The CMC regulator has said that CMCs cannot be paid a cut on any increased offer unless they were involved in getting that increase. So, some of the less scrupulous CMCs are going back to people to get new agreements signed so they can get paid on these extra refunds by pretending they were involved in them.

I am an Independent Financial Adviser (IFA). Comments are for discussion purposes only. They are not financial advice. Different people have different needs and what is right for one person may not be for another. If you feel an area discussed may be relevant to you, then please seek advice from an Independent Financial Adviser local to you.

Hi all. I'm a bit confused right now which is the reason I signed up to this forum.
I received a letter from cabot financial wed 31st may saying I was due a refund due to them not sending statements and charging me interest. This was linked to a blackhorse debt which I had but has now been cleared. I have been paying off my debts through step change. I rang Cabot the same day I got the letter and gave the reference number on the letter. I was then again told I was due a refund and asked how I would like it paid, options were cheque or bank transfer. At this point I questioned whether this was some sort of scam as I had been asked for my account number and sort code. I was assured by the guy on the phone that I was due the refund and he apoligized for the errors on behalf of Cabot. I gave my details and waited a few days for the money to arrive.

Tuesday 6th june I rang Cabot as there was no sign of any payment to my account. At first the lady on the phone began talking about an overpayment from step change which had been refunded to them. This I should add was mentioned in the first call but I was told it was seperate from the refund owed to myself. I then explained I was actually calling about my own refund. After being put on hold the lady returned to say had found my records of the previous call but said that all refunds had been made to step change. I then explained I had already given my bank details for the refund during first phone call. After another 2 to 3 minuteson hold she returned to say that the refund was on its way but due to a high volume of cases this may take a little longer than usual and to call back at the end of the week.

My partner phoned step change today who say they have no record of any refund or overpayment. Am I being scammed or are cabot just trying to slow down the process. The money I should add is a bonus to me if I get it. Its not money I even thought I was owed I just dont want to get scammed this close to getting out of debt.

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